HONOLULU (HawaiiNewsNow) - On Real Estate of Mind we usually talk about buying homes and selling houses, but today's topic is a little different. It is not for everybody, but if you have a vision.. and a some extra cash.. this could be for you. We talked with Coldwell Banker Realtor Associate Doug Shanefield about buying vacant land and visited his Hawaii Loa Ridge listing at 659 Moaniala St. Check out the video.. and some of the expert advice below.
There are many things to consider when buying vacant land, whether you're planning your dream home or a business or investment. This breathtaking parcel of vacant land on Hawaii Loa Ridge in East Oahu gives us the opportunity to review some of these considerations.
- Zoning: Taking into account your wants and needs for the vacant land, you have to be aware of zoning. Each area of the island has a zoning designation such as Conservation, Preservation, Agricultural, Industrial, Business, Resort or Residential. Zoning laws set up specific guidelines for those areas.
- Neighborhood and Community Guidelines: Within that, there are often further rules or guidelines. For example, Oceanfront property has its own special setback restrictions for ecological purposes. This spectacular vacant lot on Hawaii Loa Ridge is zoned for residential, which allows you to build a single family home, but also has special design guidelines that have to be followed by an architect. This sets a standard of quality for the neighborhood that preserves and increases its value over time.
- Utilities: What utilities are at the property line already? Will you encounter any costs or issues bringing needed service to your land?
- And more: When considering buying a vacant land, choose a realtor who is aware of your needs and the zoning laws and special restrictions.